Common use of Payment Due on Sale Clause in Contracts

Payment Due on Sale. Notwithstanding any other provision to the contrary, subject to Sections 5.03 and 5.04 below, if the Borrower sells the Property pursuant to a Bona Fide Offer (as defined in Section 5.04(a) below), then all outstanding principal and accrued interest on the AHIF Loan, together with any other sums evidenced by the AHIF Note or secured by the AHIF Deed of Trust and/or any other AHIF Loan Documents, as well as any future advances that may be made to the Borrower by the County Board, shall be immediately due and payable by the Borrower to the County Board.

Payment Due on Sale. Notwithstanding any other provision to the contrary, subject to Sections 5.03 and 5.04 below, if the Borrower sells the Property pursuant to a Bona Fide Offer (as defined in Section 5.04(a) below), then all outstanding principal and accrued interest on the AHIF Loan, together with any other sums evidenced by the Amended and Restated AHIF Note or secured by the Amended and Restated AHIF Deed of Trust and/or any other Amended and Restated AHIF Loan Documents, as well as any future advances that may be made to the Borrower by the County Board, shall be immediately due and payable by the Borrower to the County Board.

Payment Due on Sale. Notwithstanding any other provision to the contrary, subject to Sections 5.03 and 5.04 below, if the Borrower sells the Xxxxxxx Place Property pursuant to a Bona Fide Offer (as defined in Section 5.04(a) below), then all outstanding principal and accrued interest on the AHIF Acquisition Loan, together with any other sums evidenced by the AHIF Acquisition Note or secured by the AHIF County Deed of Trust and/or any other AHIF County Loan Documents, as well as any future advances that may be made to the Borrower by the County Board, shall be immediately due and payable by the Borrower to the County Board.